Truvestments Capital LLC Makes New $86,000 Investment in Pitney Bowes Inc. (NYSE:PBI)

Truvestments Capital LLC purchased a new stake in Pitney Bowes Inc. (NYSE:PBI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,000 shares of the technology company’s stock, valued at approximately $86,000.

Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Pitney Bowes by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 2,116,838 shares of the technology company’s stock valued at $10,754,000 after purchasing an additional 21,811 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Pitney Bowes by 2,894.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,228,562 shares of the technology company’s stock valued at $8,760,000 after buying an additional 1,187,531 shares during the last quarter. Marshall Wace LLP boosted its position in Pitney Bowes by 248.1% during the 2nd quarter. Marshall Wace LLP now owns 706,302 shares of the technology company’s stock worth $3,588,000 after buying an additional 503,378 shares during the period. Renaissance Technologies LLC grew its holdings in Pitney Bowes by 3.8% during the 2nd quarter. Renaissance Technologies LLC now owns 519,571 shares of the technology company’s stock worth $2,639,000 after acquiring an additional 19,000 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Pitney Bowes by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 508,038 shares of the technology company’s stock valued at $2,581,000 after acquiring an additional 10,646 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Pitney Bowes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st.

Pitney Bowes Trading Up 0.5 %

NYSE PBI opened at $8.20 on Wednesday. The business’s 50-day moving average price is $7.24 and its two-hundred day moving average price is $6.49. Pitney Bowes Inc. has a 12 month low of $3.68 and a 12 month high of $8.80.

Pitney Bowes (NYSE:PBI) last released its earnings results on Friday, November 8th. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $499.46 million during the quarter, compared to the consensus estimate of $467.80 million. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. As a group, sell-side analysts anticipate that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $0.05 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.20 annualized dividend and a yield of 2.44%. Pitney Bowes’s payout ratio is -9.17%.

Insider Activity at Pitney Bowes

In other Pitney Bowes news, Director Paul J. Evans bought 29,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $7.80 per share, for a total transaction of $226,200.00. Following the completion of the acquisition, the director now owns 29,000 shares in the company, valued at $226,200. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 14.30% of the stock is owned by company insiders.

Pitney Bowes Company Profile

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.